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Takeover Bid by Troy Resources Limited for Azimuth Resources Limited – Notice of Extension of Offer Period

June 7, 2013

PERTH, Australia, June 7, 2013 /CNW/ – Azimuth Resources Limited (ABN 87
089 531 082) (Azimuth) (ASX, TSX: AZH) advises that it has received a Notice of Variation
under subsection 650D(1) of the Corporations Act (Act) from Troy Resources Limited (Troy).

The Notice of Variation informs Azimuth that Troy:

        --  Varies its takeover offer, contained in its bidder's statement
            dates 9 May 2013 as supplemented by a supplementary bidder's
            statement dated 24 May 2012 (Bidder's Statement), for all of
            the ordinary shares (Offer) in Azimuth by extending the period
            during which the Offer will remain open pursuant to section
            650C of the Act.  The Offer will now close at 7.00pm (Sydney
            time) / 5.00am (Toronto time) on 28 June 2013 (unless further
            extended).
        --  Varies the Bidder's statement by replacing 14 June 2013 with 28
            June 2013 in each place where the closing date for the Offer is
            specified in the Bidder's Statement or the Acceptance Form.
        --  Gives notice under section 630(2) of the Act that:
      o a) The new date for giving notice of the status of the conditions
        set out in section 14.9 of the Bidder's statement (Conditions) is
        21 June 2013;
      o b) The Offer is not free from the Conditions; and
      o c) So far as the Bidder knows, the Conditions were not fulfilled as
        at the date of the notice.

A copy of the notice was lodged with ASIC, and will be lodged on SEDAR (www.sedar.com) on 7 June 2013.  ASIC takes no responsibility for the contents of the
notice.

Yours faithfully,

Joshua Ward
Company Secretary

SOURCE Azimuth Resources


Source: PR Newswire